This paper provides evidence on factors affecting the level of the regulatory solvency ratio of Spanish insurers from 2005-2012 by employing the two-step system generalized method of moments in the analysis. Results show a significant degree of persistence in the regulatory solvency ratio. Cost...

This paper provides evidence on the determinants of the diversification status as well as the extent of diversification for Spanish non-life insurers in the period 2000-2007. Operating efficiency, risk pooling, internal capital markets, conflict of interests and external markets control are the...